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Sensex opens up by 35 points

After four days holiday, the equity market opened on a positive note today as the Sensex of Bombay Stock Exchange (BSE) rose by 35.21 points to 17,395.82, as against its previous close of 17,360.61, on good demand from Foreign Institutional Investors (FIIs) and local operators.

Similarly, the Nifty of National Stock Exchange (NSE) also gained moderately by 5.85 points to 5,184.25.

The Sensex could maintain its bullish trend for the fourth day today as it recorded the high and low at 17,441.71 and 17,388.67 points respectively in the intra-day trade, while the Nifty registered the high and low at 5,202.05 and 5,175.85 points respectively.

The Nifty touched the psychological 5,200 mark in the early trade on the back of buying in power, telecom, metal and select banking stocks.

However, BPCL, Ambuja Cements, Tata Motors, ONGC and Hindalco were the losers in early trade. Ranbaxy Labs fell over 3 per cent.

In Midcap and Smallcap space, Escorts, Fortis Healthcare, Tanla Solutions and Subex gained by between 2 and 2.7 per cent.

Max India gained 3.8 per cent and Dish TV by two per cent. While, ITI and Gujarat NRE Coke were down over 1.5 per cent.

Asian markets were trading lower, with Shanghai, Hang Seng, Nikkei, Kospi and Taiwan Weighted falling by between 0.2 and 0.7 per cent. However, Straits Times was up 0.1 per cent.

Among the heavyweights, NTPC advanced by 2.11 per cent, followed by Tata Steel by 1.32 per cent, Bharti Airtel by 1.29 per cent, ICICI Bank by 1.28 per cent, Reliance Infra by 1.19 per cent and Hero Honda by 0.89 per cent.

However, Sun Pharma drifted lower by 1.18 per cent, ONGC dipped by 1.11 per cent, HDFC Bank slid by 0.91 and TCS edged down by 0.90 per cent.